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Rajan: Capital infusion a good beginning
Highlights
Rajan: Capital infusion a good beginning. Reserve Bank Governor Raghuram Rajan said Rs 25,000 crore of capital infusion planned by the government in public sector banks this fiscal is \"adequate and a good beginning\".
Reserve Bank Governor Raghuram Rajan said Rs 25,000 crore of capital infusion planned by the government in public sector banks this fiscal is "adequate and a good beginning". "Allocation for first-year recapitalisation is adequate," Rajan said when asked to comment on the infusion plan. "It's a good beginning," he said after his customary meeting with Jaitley ahead of the third bi-monthly monetary policy on August 4.
RBI Deputy Governor R Gandhi said the decision to infuse Rs 70,000 crore over the next four years was a welcome move by the government. As for the Rs 1.1 lakh crore required to be tapped by banks over the next four years, he said there was enough appetite in the market for that.
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